One of the few positives of Coronavirus has been widespread recognition that many of the workers who make much of life as simple as having to pay a bill don’t get nearly enough income so that they can live the lives they have outside of work in the same way as most would choose.
The emphasis has been on Key Workers and specifically the nurses, healthcare workers and medical support staff who work for the NHS. But refuse handlers, van and lorry drivers, shop assistants, shelf stackers, gig economy workers, takeaway staff and many more besides all do jobs that streamline and bring significant value to our lives.
Because we have been conditioned to believe that money is the only thing that really adds value to anything, there is a clear link between public acknowledgement of what these workers do and the growing clamour to provide a financial reward.
Yet the problem that is difficult for many to see is that by raising the salaries and hourly rates of the lowest paid or those we accept are not paid enough, we simply set off a chain reaction of price rises and financial benefits that stretches right back up to the top. It makes the money we have worth less and quickly takes the real-world value of the new higher wage back to where it was before.
The supply of money isn’t the best way to reward the people that we need to value more.
It is the money system itself that is the problem. The way that it is managed by Government that is broke.
As long as this continues, life will always be something that the low paid simply cannot afford.
Free markets and liberalisation of finance, big business and the banking system are a great idea if everyone working within them operates compassionately and considerately with the emphasis fully on service with profits playing only a happy and coincidental part.
That’s not the way that it works.
With Banks printing money at will, agents buying, selling and transferring goods before they reach us without adding value to the process many times, and a city that speculates on company and asset prices like the impact on users doesn’t matter, the real people who just want to earn enough to provide for themselves and have a life observe the rich who play with money getting so rich they cannot spend all they have, whilst the basics in life are all the low paid can hope for and little more.
The looming financial crisis created by the Lockdown will provide us with the opportunity to put all of this right. That’s as long as we have the right people with the right vision and the motivation to do whats right and see it through in charge.
The basic prices of goods, services and accommodation that are essential for the lowest paid worker to support themselves without help and live a life that is worth living now have to be controlled.
Only Government should have the power to adjust prices, print money or have the ability to manipulate markets.
The management of money and how it can be used against us should no longer be left unhindered in private, profit-hungry hands.
This is the way that every worker no matter what they do and where they do it can do their job and feel that they go home with adequate reward.
Let’s end the idea that more money can solve any problem and just change the way that life works so that it is something that everyone can afford.
Adam Tugwell 